Amendment status not verified — confirm the current text below against the official source.
Whoever carries on tho business of money-lending carrying an without a licence or otherwise than in conformity with the business terms and conditionr: of a licence shall bc plmishcd with fine which rn%y extend to one thous:t~d rupees : licence. Provided that a person shall not be deetlled to carry on the business of moneylending without a licence, if he had ceased to cnrry on the business of money-lending but was taking steps to recover any ioan advnrrced by him. Pcnal~ies* 18. (1) Whoevcr contravenes any of the provisions of this Act b, of any rule made thereunder or of any terms . or conditions of a licence gran'ed Or deemed to be granted thereunder or makes a claim or a st:ttelncnt which is false or which he does not believe it to be true shall, if no other penalty is elsewhere provided for in this Act for such contravention, be pi~nish~d with fine which may extend to one thousa~~d tupees. Explanuti~n.-~~he cancellation o!' a licence under section 14 sh~ll ]lot be deemed to be :-L peinrrlty for the purpose of this sub-section. (2) Where a cnntravention of any of the provisions of this act or of any rule made therel~tlcler of which a I -person is convicted consists of an omission to do a thing, . . the Magistrate may, when convicting the offender; direct . him to do the thing before ari appciuted dily and wy on the failure of the o$bnder to do the thing before the said day, pass an order, whether the offellder appears in Court L-r not on that c!ay cancelling his 1-cence. - --- - - --- , . . . Them words, blqa~kbts, figures and letter were lnser - sectii~n 11 of the Taail Nadu Money-lenders ( A m e n c i ~ ~ t ) 1979 (Tamil Nadu Act 41 of 1979)" - - -.I - - - c-' + 7 54 1 - 1 1 957 : T. N, Act &VI (3) T'hz li-:cniing authority may, if he is satisfied that the applicant is in fact the Lr:gnl representative of the deceased oilti ti1:lt IW is othci*winc eligible to a licence u~zdcr this Act, tr~tnsfer th; licc~~cl: in rhc name of the appl ica~zt aftur obt ;lining f i c ~ ~ t z t lze applicant a declaration I in the prescrib.;cl form. \ (4) Ally 1 ic~nce t rallsfer rcd 11 ndec sub-section (3) shall be deemeri to l~ave bee11 granted to the applicant hi~ns:-X and shall be valid for the period for which it would have been valid if the licence had not been zransCerri~1; and the provisions of this Act shall apply a.ccordingly. ~ilrisdictia-I to '120. N3 C J L L I I inl'erior t~ that of it Metropolitan try tlff:flces* Magistrate or of a Judicial Magistrate of the first class sh;~ll try ally cl l;l:~lc;c punislzitbl c ~~~zcier this Act, PO\, wi, of cour. 20-A. Not rvit hstanding allything contained in ' any to limit interest agreemeltt or allby law for the time being in force, no'court recoverable in certain cases. shall, in respect of any loan whel1zt.r advanced before or after the date of thf: publication oft he Tamil Nadu Money- lenders (A~aoudruunt) Act, 1979, in the Turnjl Ngdr Governi,~crit G ~ z i ) t tc>, decrce on : L G C ~ \I 11 t of' intefest a sum greater than tho prill~ip%l OC I~?.C Io;:~ due 011 the date of the decree. Power af 20-8. Nol;viticsti\nding :in;ithi~ig contained in the court to direct Code oC Civil Prozddure, 1908 (Central Act V of 1908),. payment of the court may, a: iuny timz, oil application of cr judgment - dccretal amount debtor and after no the to tllc decree-holder, direct that by instalrnents. the amoullt of any decree passed sgains t liinl, whether before 01. after Llle date of LIrc p~lblic~~ticill 3f the Tamil Nadu Money-lenders (Amendment) ,\ct, 1979, in the , Tamil Nudu Goverrame~zt Gazette, in respect of a loan, shall be paid in such r~umber of instalnlents ai1d subject to such conditions and payable on such datcs, as having regard to the circumsta:lces of judgment-debt or and the amount of the decree, it considers fit. Reapenin$ of 20-C. N ~t vvi ths tanding any thiug contained in any I 'ra*sacti~ns. lavr for the time being in force, the court sl~all, in any suit to which this Act applies, whether heard ex-p~rte or otherwise- (a) reopen any transaction, or any account alreadr . . taken between the Pprties ; - -__I --- __I_ ---.---_I-- _ -__a"LIC Sections 20, 20-A, 20-B, 2Q-C and 20- the original section 20 by Stion 13 of Tamil ( ~ ~ ~ ~ d m e t l t ) Act, 1979 (TR mil Nadu Act 4 1 of 13791, 6 *, -- , - . . - I (b) take an accoui~t betweenthc l?ariies ; (c) reduce the amount charged to the debtor in spek of any zxcessive interest ; (d) if on i aking accounts it i s f ~ a n i , ;jj kt the money- ' erhas received more than what js duo t I him, pass a ee in favour of the debtor m respect such excess to by the parties or any person at a date more than six years o the date cf the suit ; anyihing which affects r\ny decree df a court. as not become payable, for taking acoou wing the amount due to the money-lender. 756 h41~n~.y-k~,i~ltrs 1 1957 : T,N. ~ c t XXVi Sav;ngs. l[21-A. (I) N~thing in thi\ Act shall affict, or shall be deemed to affect any of the benefits coderred on any perso: hv any of ihc provisons of the Tnlnil Nadu Agri- olllturists Relief Act, 1938 (Tamil Nadu Act IV of 1938) or the Tamil Nad~r Debt Relief' Act, 1972 Tamil Nadu n Act 38 of 1372) or the Tamil Nadu lildz'ated griculturists (Temporary Relief Act, 1976 (P~.eaidcnt's Act 15 of 1976 or tlre Tamil Nad i k imlebted Pel son. (Ten~porary Relief) Act, 1976 (Pr~jidc~~t's Act 16 of 1976) or the Tamil Nadu Indebted Agricalt ~irist s and I ndsbtcd Perso~ts (Special Provisions) Act, 1976 (Presitlcnt'h Act 17 of 1976) or the Tamil Nadu Deb1 1Cclief Act, 1976 (President's Act 31 of 1976) or the Tamil Nado Debt Relief Act, 1978 (Tamil .- Nadu Act 40 of 1978), notwithstanding anything to the contrary contai~~ed in this A G ~ . (2) Save as otherwise provided in sub-section (I), the provisions of this Act shall 5e iin addition to, and not in derogation of, any of the Acts specified in sub-section (11, or any other law for the time being in force.] C' '0 make